AEX drops back below 600 points in a pleasant week | Financial

The AEX index ended 0.5% lower at 596.87 points. On balance, the main indicator rose 4.2% on a weekly basis. The AMX went fractional rear window to 859.16 points.

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“Extra monetary support”

Corné van Zeijl, analyst at Actiam, emphasizes that it is not surprising that we let off steam after the stock markets have seen the largest rally ever since the US elections. He points out that the beginning of next year in particular is of great importance for the Democrats to be able to gain a majority in the Senate. “Investors, however, are more in favor of a balance between Republicans and Democrats to avoid overly radical plans being implemented.”

With the intensification of the second corona wave, Van Zeijl assumes that the economic recovery will be brought to a firm halt in the fourth quarter. “Stocks that have lagged behind and rose sharply at the beginning of this week, you see stagnating. With the prospect of a corona vaccine on the way, stricter corona regulations may be implemented in the short term. ”

According to Jan-Willem Nijkamp, ​​asset manager at Fintessa, a nice recovery is visible in the eurozone in the third quarter, but it remains to be seen what the current quarter will look like given the tightening of the corona measures in many countries. “Although the European central bank is positive about the recovery strength in the coming year, it is still too little to be able to stand on your own two feet and an extra monetary support is needed.”

Furthermore, eyes are still on politics in America, where Joe Biden got a boost from China’s congratulations for his victory in the presidential election. Nijkamp expects that next year after the official appointment of Biden as president, the Republicans will be prepared to compromise on new simulation, especially in the event of an imminent downturn of the US economy. “The role of Trump seems to be over, certainly because even his favorite channel has declared Fox Biden the winner.”

Nijkamp takes into account that after the strong recovery in recent weeks, the stock markets will gain even more momentum towards the end of the year. “Not only were third-quarter earnings outperformance by a large majority, but the upward revision of forecasts at many companies has given investors confidence. In addition, an economic improvement is on the horizon once the corona vaccine is provided sometime in the course of next year. ”

Elsewhere in Europe, the German DAX, the French CAC 40 had small gains, the British FTSE 100 recorded a 0.3% loss after a fuss within Prime Minister Johnson’s cabinet.

Chips in the taste

Meal deliverers fell among the main funds Just Eat Takeaway in the taste with an increase of 1.5%. Branch colleague DoorDash is preparing for a step to the stock exchange in the US.

Chipmachinemaker ASMI took the lead in was worth 3.1% more, sector colleague ASML lasted (+ 0.8%). Nijkamp assumes that after the sharp correction at the beginning of this week, tech funds will pull the cart again in the near future, given the uncertainty surrounding the second corona wave.

Steel concern ArcelorMittal registered in the leading group with a plus of 1.8%. The consolidation in the sector with the planned takeover of Tata Steel IJmuiden by a Swedish party played a role in this.

Unibail-Rodamco-Westfield decreased 0.1%. According to credit rating agency Moody’s, the retail property fund may be waiting for a lowering of its creditworthiness score. Moody’s refers to the abandonment of the planned € 3.5 billion share issue after shareholder opposition. Nijkamp foresees that the heyday for retail real estate will no longer return due to the expected continuing trend of consumers to continue to buy products online.

Energy company Shell lost 1.3% after a drop in oil prices. Nijkamp assumes that the Shell share, which has already risen sharply since last week, is one of the recovery candidates. He points out that with the end of the pandemic in sight, the demand for oil will pick up sharply again.

KPN (-1.5%) had to give up considerable ground after the enthusiasm surrounding the telecom group earlier this week due to takeover speculation. The Swedish investment company EQT of the Wallenberg family would be particularly interested in KPN’s network. EQT has been the owner of the Dutch telecom company Delta Fiber since 2017. Its director Marco Visser, from KPN, previously called the merger of KPN and Delta ‘one of the obvious options’. A takeover of KPN that is important for the infrastructure in the Netherlands has quite a few hooks and eyes, says Nijkamp. According to him, a split of the telecom group could ease the way to a takeover deal. Media

Besi directs Midkap

Chip supplier Iron (+ 3.5%) held the lead with medium-sized funds.

Air France KLM saw the profit evaporate to a loss of 0.2%. The airline company wants to play a role in the transport of the corona vaccine.

BAM was among the bigger winners. The price of the construction company rose 2.6%. PostNL was 2.1% higher.

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